Insurance! Its that thing you wish you had when the unexpected happens by way of loss or damage to your personal property. Policies are typically designed to cover many things while at the same time specific language in the policy excludes coverage for other things. Policies are typically summarized with words, including terminologies that need to be defined in the definition section and of course specific numbers.

These numbers found on your insurance policy are called upon in the event of a claim. Anyone with a policy wants to be told they have sufficient dollar amount to cover the total cost of the claim but often the opposite is true.

Part of the charm of our great city of New York includes the pre-war (low to high rise) buildings, fast food, taxi cabs, other commotion in the noisy streets. While we love to live in the city and enjoy elements of its charm; the electronics, Washer / Dryers, Refrigerators and other appliances and household gadgets we surround ourselves with in our homes are tasking the buildings and their old charm.

Recently I have seen a surge in water back up claims. A coverage we have associated with the rooter man in the past is changing around our beloved city. Recently one of our clients was awakened at 3.00 am by water dripping from multiple corners of their bedroom. The pressure so fast was filling up to ankle height, turning their bedroom to a shallow swimming pool with no explanation.

They rushed out to the living room, grabbed their kids only to find that water was already all over their apartment. The video he took of the incident so early in the morning looked like multiple vibrant waterfalls right in their living room. What to do?

We put in the claim and they were covered for most of the loss of furniture (after the deductible was applied). What I didn’t anticipate is the high cost of restoration services. The companies that provide restoration services after a disaster – draining the water, drying up the walls with fans to prevent further mildew  build up bear a real cost which is also deducted from the policy’s water back up limit.

Your Next Step – Grab your Property policy (Homeowners, Renters, Condo/Co-op or Landlord) and check for water back up, then check the dollar limit. If it is less than $25,000, call your Agent or Insurance Company and increase to a higher limit. You’ll find that this is not an expensive coverage to increase. You will also enjoy the peace of mind when you find out the water damage did not originate in your apartment but poured into your apartment and naturally continued to the apartment below. Water will continue to flow and ruin anything in its wake. Even if you don’t live in the city, you sure could use more coverage for a little extra money.

As you probably already know flood insurance is not typically included in your home or property insurance and water from inside the home is not considered flood in any case. Flood typically is running or moving body of water from outside the home and typically considered an act of God. If you’re still unsure what to do, call our office and ask to speak to a Homeowners, Renters or Condo Insurance expert on the Team at (212)-568-5700. You can also contact us through Facebook @alphadirectagency